Tuesday, August 19, 2014

5. Saving is an expense. I see saving as part of my monthly expenses. If you aren't ending up with enough to save at least something each month then you should probably think about giving something up.

4. Can you live without it? Think about expenses in your life that you might be able to give up. Think of it as trying to trim the fat. Do you have a gym membership that you barely use? Could you be working out at home or outdoors? Do you really need cable t.v. or could you live with watching t.v. on the Internet. I'm not suggesting anyone give up something very important to them, I'm only asking you to question what it is you have and what you can live without. Do you visit a coffee shop daily when you could just make coffee at home.

3. Can you make it yourself? Are there products that you use that you could try making yourself? Laundry detergent, dryer sheets, or wrinkle release? Click the links for some great recipes for each of these. You can save lots of money by not purchasing so many commercially advertised products.

2. Let go of brands. Many items have an off brand or a store brand right next to the commercial brand. If you compare ingredients many are exactly the same. Once you realize that by buying the commercial brand you are paying a few dollars more just for advertising, you still start saving money.

1. Figure out if you need it. The most frugal strategy there is! When you want to buy anything think about how it will improve your life. If it will only improve it for a short time you may not really need it. A new shirt that you will get sick of in a month is an example. If something you want to buy will award you long term enjoyment or convenience it could be more worth it. Also consider if you can afford it. Do you need to buy it on credit? If you can still see yourself living without it, maybe it's something better suited to save up for.